Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Mention and describe at least three (3) regional trade agreements.
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- 1) Outline and explain five (5) reasons for International Trade.arrow_forwardDescribe the payment term options available to exporters and importersarrow_forwardYou have sent you shipment to your international customer against a sales contract and submitted the documents including invoice and bill of lading. Your customer now develops cold feet and wants to pull out of the contract and does not want the goods anymore. Your customer thus refuses to receive the documents and clear the goods through customs in the importing country. You are now stuck in a situation where your goods are at a port terminal in a foreign country and you will not be paid. Explain how you will resolve the situation? Specifically what terms of payment could you have used that would "rescue" you when such a situation occurs? Clearly explain and provide justification as part of your answer.(Urgent please help, It's not an essay)arrow_forward
- Differences between An Ambassador and high Commissionerarrow_forwardAnswer this using Australian Lesgilation please, thank you. The implied terms provided for in the various states’ Sales of Goods Acts are incorporated into all contracts for the sale of goods. True or false? Justify your answerarrow_forwardWhat is the responsability of the importer and exporter in delivery,transportation, and necessary documentation of goods under CIF incoterm and Documentation Collection payment?arrow_forward
- According to the theory of comparative advantage, trade can benefit A. the exporting country involved in a trade. B. neither country involved in a trade. C. both countries involved in a trade. D. the importing country involved in a trade.arrow_forwardWhat are the legal considerations that a business must take into account when engaging in international trade?arrow_forwardReasons why there is risk of non-payment in international transactionarrow_forward
- Requirements that are needed for another country and foreign enforceable contract in protecting business interestsarrow_forwardadvice for companies who have not sufficient knowledge of exportingarrow_forwardSome trade companies exported goods under CIP trade terms, during whole130%transportation process, the folowing risks, losses and expenses occurred:(1) Suffered transport vehicles capsizing during transit from the warehouse to the departure port, and resulted in some goods damage.(2) During the loading of the goods from departure port to the ship, one entire package goods faling on shore, caused goods complete damage, and one entirepackage goods falling into the sea, caused some goods slight damage.(3)The ship sufered tsunami during sailing, the engine couldn't work properly, and the ship couldn't move.I(4)Asked tugboat for rescue, and went to refuge port for repairing the ship, and paid salvage charges and warehousing charges.(5) After repairing the ship, the ship sailed again, but suffered heavy weather, caused damage of some goods in the cabin A.(6) Whereafter, suffered grounding, caused complete damage of fragile goods in cabin B.(7) When the ship arrived at the port of destination…arrow_forward
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